The House Just Made It Harder for Politicians to Steal From Social Security Retirement Fund

Looks like the new House of Representatives is threading pipe.

A Bill passed (H.Res. 5) has a few interesting items within.

The one highlighted here has something to do with the Social Security Disability and Retirement Funds.

Don't know what to think, but it may have to go through the Senate and even then the big question is what will Obama do?


The House Just Made It Harder for Politicians to Steal From Social Security Retirement Fund

This Tuesday, House Republicans nearly unanimously adopted new rules for the 114th Congress (H. Res. 5) which set the stage for long overdue Social Security reforms to protect disabled Americans and seniors from indiscriminate benefit cuts.

The new rule strengthens the integrity of Social Security’s separate trust funds (disability and retirement) by putting a procedural barrier in place to prevent lawmakers from raiding retirement funds to shore up the bleeding disability trust fund. Page 32 of H. Res. 5 adds a point of order against weakening either trust fund, unless the changes result in an overall improvement to Social Security’s combined trust funds.

This change sets the stage for comprehensive Social Security reform in the 114th Congress.

Well?

Anything else in this Bill

Good? or Bad?

a reply to: xuenchen

What's left in it to steal?

Hell, from what I understand it got so full of IOU's that they just decided to empty it and depend on the FED to keep loaning and printing out their fiat currency!

Sounds like they are preparing (covering their behinds) for a wave of benefit deductions?

Put that one in my 2015 predictions.......

a reply to: seeker1963

A sound theory indeed.



Perhaps this new legislation is just a mask.

They revolve around internal issues while the balloon loses air.

a reply to: xuenchen

The headline is entirely wrong.

There is Social Security and there is also the Social Security Disability Fund.

Social Security is projected to be Solvent until 2033 under current conditions
The Social Security Disability Fund is only Projected to be Solvent for the next few years (unless it is changed)

Some have proposed using funds from SS to help pay the SS Disability until Congress fixes it. (Assuming they won't do squat in the next few years)

What the GOP have done is block any measure to keep Disability going after it runs out of money in 2016.

This bill is aimed at killing SS Disability...not saving SS and does nothing to prevent them from continuing to raid SS as needed....for every purpose OTHER than funding SS Disability.

Maybe they should focus on the government not stealing the money from the people in the first place, instead of the government not stealing the people's stolen money from amongst themselves.

They squabble over who controls the money while the people are being screwed just the same either way.

This is what is being presented to you as "part of the solution".

a reply to: Indigo5

Certainly a possibility.

But can you quote the specifics from the Bill itself?

Might help understanding without speculation.

originally posted by: Indigo5
a reply to: xuenchen

The headline is entirely wrong.

There is Social Security and there is also the Social Security Disability Fund.

Social Security is projected to be Solvent until 2033 under current conditions
The Social Security Disability Fund is only Projected to be Solvent for the next few years (unless it is changed)

Some have proposed using funds from SS to help pay the SS Disability until Congress fixes it. (Assuming they won't do squat in the next few years)

What the GOP have done is block any measure to keep Disability going after it runs out of money in 2016.

This bill is aimed at killing SS Disability...not saving SS and does nothing to prevent them from continuing to raid SS as needed....for every purpose OTHER than funding SS Disability.

This was my understanding of the bill as well......it will require cutting SS disability benefits.
www.dailykos.com...#

The House on Tuesday passed legislation laying out parliamentary rules for the year. The bill included a little-noticed provision blocking Congress from shifting funds to prevent a 2016 shortfall in Social Security's disability insurance program.
The Social Security Administration's actuaries have projected that the disability insurance program's trust fund will run out of money next year, resulting in a 20 percent benefit reduction for nearly 11 million Americans.

a reply to: xuenchen

This is a good move with social security. Politicians for the longest time raided SS funds for other programs / issues etc. Its one of the reasons social security will not be available to people down the road that are paying into the system now. Since baby boomers started retiring the burden on the SS system increased.

If the government is going to pass a tax for a program then those funds should be required to go to that program. Passing a tax and then using the funds collected for something other than what was stated, in my opinion, should be illegal.

Bait and switch comes to mind.

(q) SOCIAL SECURITY SOLVENCY.—

(1) POINT OF ORDER.—During the One Hundred Fourteenth Congress, it shall not be in order
to consider a bill or joint resolution, or an amendment thereto or conference report thereon, that reduces the actuarial balance by at least .01 percent of the present value of future taxable payroll of the

Federal Old-Age and Survivors Insurance Trust

Fund established under section 201(a) of the Social

Security Act for the 75-year period utilized in the

most recent annual report of the Board of Trustees

provided pursuant to section 201(c)(2) of the Social

Security Act.


(2) EXCEPTION.—Paragraph (1) shall not

apply to a measure that would improve the actuarial

balance of the combined balance in the Federal Old-

Age and Survivors Insurance Trust Fund and the

Federal Disability Insurance Trust Fund for the 75-

year period utilized in the most recent annual report

of the Board of Trustees provided pursuant to section 201(c)(2) of the Social Security Act

From the article:

"Moreover, employer incentives to provide private disability insurance would help to provide benefits faster for those who become in need of them while emphasizing work accommodations over dependence."

There is the whole point. To get it privatized, then they will go after Soc Sec retirement. Sleaze bags.

a reply to: MOMof3

I think some private disability policies pay according to your salary.

In some cases that might be better than SS.

A sad state of affairs when laws have to be passed to protect taxpayer funds held by our government from theft by our government. Seems a bit....empty. But uuuhhh, way to go?

a reply to: xuenchen

Whose retirement fund theirs or yours

They must have been consulting with David Cameron. He would love to abolish disability benefits. Nothing gets him turned on more than #ting all over the most vulnerable of society.

originally posted by: xuenchen
a reply to: MOMof3

I think some private disability policies pay according to your salary.

In some cases that might be better than SS.

That doesn't do much for those already disabled.

originally posted by: MOMof3
From the article:

"Moreover, employer incentives to provide private disability insurance would help to provide benefits faster for those who become in need of them while emphasizing work accommodations over dependence."

There is the whole point. To get it privatized, then they will go after Soc Sec retirement. Sleaze bags.

Note that this also means that should your employer simply decide to not pay into disability insurance, or not have a good policy you lose out while your employer saves tons of cash.

There are no trust funds, folks. No piles of money being saved up. There are just cash flows, and when the income doesn't keep up with the outlays, they tell Ma and Pa Kettle that "all the money is gone," because they know the simpletons of the American populace will not be able to understand the reality of it.

What the GOP has done here is insure that SS Disability will be in crisis, which they will use as the pretext to "reform" the whole system, or something like that, which can be translated as "protect our rich sugar daddies and corporate masters from higher taxes by telling the cripples to go pound sand."

Typical Republican evil, all wrapped in the flag and Jeebus.

The US has been broke since 1933, It has no money. That's the secret. Why does the US keeps borrowing money from the Federal Reserve Bank just to go deeper in the hole ? Back in and before 1913 there was no Federal Reserve Bank. Our US government went to Congress for money they needed to keep the government running. The only real cost was the cost of the materials to print the money and the money was debt free. So if the Federal Reserve is part of our government, why do "We The People" have to pay the interests on our government's money? Remember the act of 1871 when our government sold us out to the Corporation's. The United States Isn't a Country — It's a Corporation now !

www.serendipity.li...

a reply to: The only 1 who knows the

People need to read that link !!!